DA Davidson Initiates Coverage on USD Partners LP (USDP)
Equities researchers at DA Davidson began coverage on shares of USD Partners LP (NYSE:USDP) in a research note issued to investors on Thursday. The firm set a “buy” rating and a $15.00 price target on the stock. DA Davidson’s target price points to a potential upside of 13.46% from the company’s current price.
A number of other equities analysts have also weighed in on USDP. Zacks Investment Research raised USD Partners from a “strong sell” rating to a “hold” rating in a research note on Saturday, July 9th. Citigroup Inc. boosted their price objective on USD Partners from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, FBR & Co initiated coverage on USD Partners in a research note on Friday, September 9th. They set an “outperform” rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $13.64.
Shares of USD Partners (NYSE:USDP) opened at 13.22 on Thursday. USD Partners has a 12 month low of $4.72 and a 12 month high of $13.35. The company’s 50-day moving average price is $12.14 and its 200-day moving average price is $10.54. The company has a market cap of $306.07 million, a P/E ratio of 15.06 and a beta of 1.13.
Large investors have recently bought and sold shares of the stock. Creative Planning acquired a new stake in USD Partners during the second quarter worth approximately $105,000. Financial Counselors Inc. purchased a new stake in USD Partners during the second quarter valued at about $142,000. GSA Capital Partners LLP increased its stake in USD Partners by 91.8% in the second quarter. GSA Capital Partners LLP now owns 26,083 shares of the company’s stock valued at $251,000 after buying an additional 12,483 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in USD Partners by 0.4% in the second quarter. Evergreen Capital Management LLC now owns 763,885 shares of the company’s stock valued at $7,364,000 after buying an additional 3,250 shares in the last quarter.
USD Partners Company Profile
USD Partners LP (USD Partners) is a fee-based, master limited partnership formed by US Development Group LLC (USD) to acquire, develop and operate energy-related logistics assets, including rail terminals and other midstream infrastructure. The Company conducts its business through two segments: Terminalling services and Fleet services.
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